Ansys Announces Financial Results With Record Q4 and FY 2020

Ansys Announces Financial Results With Record Q4 and FY 2020 Revenue, ACV and Operating Cash Flow

Condensed Consolidated Statements of Income
(Unaudited)

	Three Months Ended						Twelve Months Ended
*(in thousands, except per share data)*	December 31, 2020			December 31, 2019			December 31, 2020			December 31, 2019
Revenue:
Software licenses	$	382,057		$	268,943		$	780,850		$	699,630
Maintenance and service	241,629			217,285			900,447			816,262
Total revenue	623,686			486,228			1,681,297			1,515,892
Cost of sales:
Software licenses	9,930			7,324			30,618			23,944
Amortization	11,415			7,646			40,642			21,710
Maintenance and service	46,558			34,626			154,004			120,619
Total cost of sales	67,903			49,596			225,264			166,273
Gross profit	555,783			436,632			1,456,033			1,349,619
Operating expenses:
Selling, general and administrative	195,845			167,937			587,707			521,200
Research and development	96,510			79,152			355,371			298,210
Amortization	4,037			3,827			16,599			15,169
Total operating expenses	296,392			250,916			959,677			834,579
Operating income	259,391			185,716			496,356			515,040
Interest income	610			3,186			5,073			12,796
Interest expense	(2,444		)	(2,900		)	(10,988		)	(3,461		)
Other income (expense), net	315			(855		)	3,484			(1,792		)
Income before income tax provision	257,872			185,147			493,925			522,583
Income tax provision	42,240			19,295			60,038			71,288
Net income	$	215,632		$	165,852		$	433,887		$	451,295
Earnings per share – basic:
Earnings per share	$	2.50		$	1.95		$	5.05		$	5.36
Weighted average shares	86,115			85,183			85,840			84,259
Earnings per share – diluted:
Earnings per share	$	2.46		$	1.91		$	4.97		$	5.25
Weighted average shares	87,626			86,992			87,288			85,925

Reconciliations of GAAP to Non-GAAP Measures (Unaudited)

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